Payday Gold Payday Loans

Information verified correct on December 4th, 2016

Don't get overwhelmed when choosing a payday lender, let Payday Gold find one for you.

Everyone experiences difficult situations over the course of their lives, and unfortunately, many of these situations involve money. If your credit history is less than perfect, tough times can be made even tougher by having limited options for accessing credit. Payday loans are an option for people who have negative listings on their credit file, because these loans are shorter term and for lower amounts than more-traditional personal loans, which means less of a risk for the lender.

If you're looking for a personal loan, Payday Gold can help you by looking at your financial situation and linking you with a suitable lender.

Other Payday loan options

Whilst we don't compare Payday Gold Payday Loans directly, here are some other loans that are similar.

Rates last updated December 4th, 2016
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About Payday Gold

Payday Gold is a non-banking institution that helps people find payday loans. They use their expertise to analyse your financial situation and then link you to a lender that is able to help. Payday Gold is a free service and makes money by charging commission to the third party lenders they work with. All matters relating to your loan should be conducted through the third party lender that you borrow from rather than through Payday Gold directly.

What is a payday loan?

A payday loan is a small, short-term loan that helps cover expenses before your next paycheque. These loans are an option for people who have negative listings on their credit file because payday lenders generally focus more on your ability to repay the loan rather than past discretions. Your eligibility for a payday loan is determined by a few factors, including your income and pay frequency.

How does it work?

Payday Gold is not a lender, but rather a facilitator that matches people looking for payday loans with lenders. You fill in an online application form and using your financial details Payday Gold will match you to a lender who will be able to offer you a loan. They do not charge fees for their service, but rather the fees are charged by the lender you borrow from.

Fees and charges

The Government has placed a fee cap for all small loans of less than $2,000 for a period of between 16 days and one year. The fees payday lenders are able to charge are as follows:

  • Loan establishment fee. This cost covers the administrative costs of setting up the loan and is 20% of the amount loaned.
  • Monthly account fee. This fee is to cover the ongoing administrative costs of the loan.
  • A government fee. This is to cover any costs or charges that are government-related and differ between lenders and loans.
  • Default fees or charges. These are charged in case you are unable to make your repayments and default on your loan. These fees may include costs for collection letters, late payments, etc.
  • Enforcement expenses. These charges are incurred if you default on your loan and the lender has to take you to court to enforce payment.

Who can apply?

The specific eligibility criteria will differ between lenders, but you will need to meet the following basic criteria in order to apply:

  • Be 18 years or older
  • Be employed or receive some form of qualifying income
  • Receive your income regularly into your bank account

How to apply

If you would like to apply for a personal loan through Payday Gold you can complete their online application by following the secure link on their web site.

Here is an outline of the Payday Gold application process:

  1. Using the information you provide in the online application, Payday Gold will match you with an appropriate lender who can meet your borrowing needs.
  2. You will be sent an email to your nominated email address with information about the lender you are matched with.
  3. You should then confirm all loan details with the lender you are matched with.
  4. Depending on the lender, your funds could arrive in your account the following business day, or at the most one to two business days later.
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